Apple Card has secured their first sign-up bonus partner with Walgreens; customers to receive $50 in daily cash when they...
Today Apple officially revealed the Apple Card which is made possible through Goldman Sachs; users will be able to sign...
In this week’s PeerIQ Weekly Update the company covers the recent spate of bank earning reports, securitization news and issues another round of hiring updates; banks have seen a continued drop in fixed income and commodities trading revenue, picking up the slack has been lending and wealth management; Citigroup and Morgan Stanley had strong reports while Goldman Sachs and American Express missed the mark; SoFi is issuing a $720mn securitization deal, Moody’s rated the A classes AAA; PeerIQ also lists five new hires stemming from the $12mn round last summer. Source.
Working with fintechs has been a lengthy process for most banks with timing lasting about 12 to 18 months on...
Through the partnership, the firm hopes to provide more personalization to their over 270,000 users; both portfolios were vetted by Betterment to ensure quality and affordability standards; Dan Egan, director of behavioral finance investments at Betterment stated, “We wanted to get these strategies out to our clients as quickly as possible, rather than build them out ourselves.” Source
People who applied for the Apple Card and have been declined will be able to enroll in a new program...
Goldman Sachs's Marty Chavez has helped lead the bank to new levels of automation which have been revolutionizing the financial services industry; Chavez provides details on how the bank's equity trading desk was consolidated from 600 employees to two traders; automation has also evolved significantly for currency trading and investment banking; Chavez sees the trend continuing with more computer engineers replacing traders and investment banking tasks involved with transactions such as initial public offerings also becoming automated. Source
In this week’s PeerIQ Industry Update they cover the continued growth in the jobs market with the unemployment rate dropping...
Dodd-Frank requires banks to disclose information about employee wages and the data shows a mixed bag for banks; banks like Goldman Sachs lie on the high end of the pay scale while small banks in locations like Houston are at the bottom of the spectrum; what the data also shows is banks are finding it hard to compete with big tech firms for talent as companies like Google, Facebook and Amazon tend to pay premium wages; wages overall look to be rising as lower skill, lower wage jobs are becoming less frequent across the industry. Source.
Asset management divisions within big banks have always been a solid revenue source but recently they have taken on greater...